UPDATE (2/17/12): Today the official Swype Beta with ICS support was released! To get it:

1. If you have the unofficial version of Swype, uninstall it. (Settings > Apps > Swype > Uninstall)
2. Go to beta.swype.com and register with an email that is accessible to your phone.
3. From your phone, open the account activation email you receive. Take note of the “account code” and then click on the link to download the Swype Installer.
4. Download the Installer, open it, login with your email and password, enter the account key when prompted, and follow the instruction from there.

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If you have a new Galaxy Nexus and have tried to install a Swype from the Android Market, you have received an error message. According to Swype, “the screen size is not supported”, and therefore Swype is incompatible with Ice Cream Sandwich. They said in December that an update would come out at the end of January 2012, but so far there is no Swype for Ice Cream Sandwich in sight. However, other enterprising folks have created a Swype that works beautifully on my Galaxy Nexus. I have had it for a week now, and give an inward sigh of relief every time I use it. Here’s how to install it: